CWSI Forex broker specializes in providing foreign exchange trading services, the company's official website http://www.cwsi.com.hk/en/service/register_flow, the company's legitimate regulatory information Hong KongSFCDealing in futures contracts,Hong KongSFCDealing in securities, to enhance the security of the company's address Rm1801-1802, Far East Finance Centre, 16 Harcourt Road, Admiralty, Hong Kong.
CWSI Forex Broker
Basic information
Hong Kong
5-10 years Regulated in Hong Kong Dealing in securities Suspicious Scope of Business Hong Kong Dealing in futures contracts Revoked Suspicious Overrun Medium potential riskCompany profile
Established in 2014, Central Wealth Securities Investment Limited (CWSI), a subsidiary of Central Wealth Group Holdings Limited (00139.HK), offers a diverse range of trading assets, including online stock trading, margin accounts, and participation in Initial Public Offerings (IPOs).
However, there are regulatory setbacks, such as the revocation of its futures contracts license by the SFC of Hong Kong.
Pros and Cons
| Pros | Cons |
| Various financial products and services | Revoked and exceeded licenses of SFC |
| Transparent fee structures | No demo accounts |
| High minimum deposit |
Is CWSI Legit?
CWSI faces a considerable regulatory setback as its license for dealing in futures contracts has been revoked by the Securities and Futures Commission of Hong Kong (License No. BFW317).
Similarly, CWSI's regulatory status continues to be a cause for concern, having exceeded the standards set by the Securities and FuturesCommission of Hong Kong (License No. AVE583) in dealing with securities.
| Regulatory Status | Revoked |
| Regulated by | Securities and Futures Commission of Hong Kong (SFC) |
| Licensed Institution | Central Wealth Futures LImited |
| Licensed Type | Dealing in futures contracts |
| Licensed Number | BFW317 |
| Regulatory Status | Exceeded |
| Regulated by | Securities and Futures Commission of Hong Kong (SFC) |
| Licensed Institution | Central Wealth Securities Investment |
| Licensed Type | Dealing with securities |
| Licensed Number | AVE583 |
Products and Services
CWSIs businesses cover securities brokerage, securities underwriting, margin financing, securities research, asset management (private funds set-up and management), structured products, bonds, and other integrated financial services.
In their asset management sector, they mainly offers fixed-income funds, with an asset management scale nearing 1 billion US dollars.
The key products include:
- Investment Grade Bond Product: This product primarily invests in investment-grade US dollar bonds, covering regions like China and Hong Kong, and can be diversified globally based on investor preferences.
- High Yield Bond Product: Targeting high yield, this product invests in high-yield US dollar bonds, particularly from China and Hong Kong.
- Short-Term Bond Product: This product focuses on short-term US dollar bonds.
- Fixed Income Products: These products invest in fixed-income targets with specific maturity intervals.
In their sales and trading sector, they provide customers with sales and trading services of offshore derivatives including national bonds, financial bonds, and corporate bonds.
Account Type
CWSI offers Cash Securities Trading Account and Margin Securities Trading Account for individual/joint, and corporate traders. Demo accounts are available for both account types.
| Account Type | Cash Securities Trading Account | Margin Securities Trading Account |
| Minimum Deposit | HK$1,000 | HK$5,000 |
To open an account of CWSI, it is simple that you submit supporting document and verify information by phone. Client number and password will be sent to you by post or email.
Leverage
| Account Type | Cash Securities Trading Account | Margin Securities Trading Account |
| Leverage | / | Up to 10 times |
It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spread and Commission
| Account Type | Cash Securities Trading Account | Margin Securities Trading Account |
| Spread | Variable, starting from 0.05% | Variable, starting from 0.10% |
| Commission | HK$0.01 per share | HK$0.02 per share |
Other Fees
CWSI charges various fees for different products and services. Take HK stocking trading as an example:
| Items | Charges (on gross trade amount) | Minimum charges (HKD & USD denominated products) | Minimum charges (RMB denominated products) |
| Phone Trading Commission | 0.25% | HKD 100 / USD 12 | RMB 100 |
| Internet Trading Commission | |||
| Settlement / Clearing Fee | 0.006% per trade (including 0.002% collected by HK Clearing) | HKD 3 | RMB 3 |
| Trading Fee (HKEx) | 0.00565% | HKD 0.01 | RMB 0.01 |
| Transaction Levy (SFC) | 0.0027% | ||
| Stamp Duty | 0.1% | A fraction of $1, round-up to the nearest $1 | / |
| FRC Transaction Levy | 0.00015% | Rounded to the nearest cent | / |
| Investor Compensation Levy (HK Government) # | 0% | / | / |
More details on each trading products can be learned through the link: http://www.cwsi.com.hk/en/trade/charge
Trading Platform
CWSI offers stock trading systems including securitiessystems and mobile stock trading systems, available on IOS and Android.
Online trading enables customers to access real-time stock quotes and conveniently enter or modify their orders whenever they choose. This platform also allows clients to effortlessly monitor their account balances, stock holdings, and the status of their orders at any time.
Deposit and Withdrawal
CWSI accepts transfer fund through Online Banking, Counter, ATM transfer and Phone Banking or bring in a cheque or bank draft (payable to “Central Wealth Securities Investment Limited”) . Third party deposit are not accepted.
Besides, clients should give their withdrawal instructions before the daily cut-off time (Trading day from Monday – Friday, on or before 11:00am) via their Sales and Customers Services Hotline at (852) 3958 4600.
繁星36864
Hong Kong
With the attitude of learning, I have observed for a while in the group. The assistant Jia Jia posted teacher’s recommendation on stock trading—position building and selling. Teacher Wang Xiang and master manager Liu and Ji taught lesson every night. On the next morning, they took members to build position. Seeing they making money, I moved. Jia Jia noticed that the second stage needs us to become VIP and use margin accounts. Thus, I opened an account and bound it to my bank card. On her guidance, I profited 20 thousand yuan and extra 4000 thorough several recommended shares. The platform stipulated that 18 yuan rollover will be charged per 10 thousand yuan. Finding that the profit these days remained stable, I doubted that whether teachers manipulated on the stock. At this time, Jia Jia told us that we get an extra opportunity to but the new share.On 18th, I deposited 20 thousand into the margin account, bringing the total to 180 thousand. The price went to a limit down. But Jia told that the position wouldn’t be closed and asked me to add fund. Then my position became liquidated, with all fund gone. My balance became -27275 yuan. Jia explained that someone leaked the information of the stock. To recover the loss, they promised add the quote of the share, asking us to continue adding fund. At that time, I realized that it was a bottomless pit. The only goal is to rip us off.This is my experience. During the process, I was pulled into 3 group, namely, C.04 Dingyao Gathering, Core Dingyao Gathering and Dingyao Gathering—Internal Operation. I deposited 180 thousand in total(deposited 200 thousand and withdrew 20 thousand) and bought the recommended share. As of May 18th, my account has become negative. Notice: The platform will block you after your account becomes liquidated. With the excuse of recovering losses, it will continue to ask you to add fund. Hope CWSI solve it if it blames on the agent. If it blames on the platform, I caution you against it.
Exposure
2020-05-25